"Picasso" trading Bot Behind Coinbase Swings?

According to the blogger called Bitfinex'ed, the wild swings that we have been seeing on Coinbase and GDAX in Bitcoin cash is as the result of a bot he dubbed "Picasso".

Apparently, the bot is a big driver behind the price discrepancy in the price on Coinbase and other exchanges such as Bitfinex. The bot could be trying to artificially inflate the price on Coinbase, buy the funds on Bitfinex and make an arbitrage profit.